Guideline for the Approval of New or Amended Insurance Policies

CENTRAL BANK OF TRINIDAD & TOBAGO Eric Williams Plaza, Independence Square, Port-of-Spain, Trinidad, Trinidad and Tobago Postal Address: P.O. Box 1250 Telephone: (868) 625-4835; 4921; 5028; Fax: (868) 627-4696 E-Mail Address: info@central-bank.org.tt Website: www.central-bank.org.tt

September 28, 2010

CIRCULAR LETTER TO ALL INSURANCE COMPANIES AND ATTIC SECRETARIAT

REF: CB-OIFI-2001/2010

Guideline for the Approval of New or Amended Insurance Policies

Reference is made to the Central Bank's Circular Letter dated July 2, 2010 in which you were advised that the Central Bank of Trinidad and Tobago (the Central Bank) would be developing and circulating formal guidelines for seeking regulatory approval of new or amended products in accordance with Sections 24 and 119 of the Insurance Act Chapter 84:01.

Accordingly, a draft Guideline is attached for your review and comment. The document can also be viewed on the Central Bank's website at http://www.central-bank.org.tt/financial_stability/index.php?pid=3055.

Stakeholders are invited to submit written comments to the undersigned by November 15, 2010. Comments can also be emailed to rdownes@central-bank.org.tt. We anticipate your usual cooperation in this matter.

Yours sincerely

[Signature]

Carl Hiralal Inspector of Financial Institutions